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How To Stop A 51% Attack INSTANTLY! (₿itcoin) 🚫👩💻
In this follow-up video, we discuss various ways that a 51% attack on ₿itcoin could be stopped by ₿itcoin Core devs, full nodes, and ASIC manufacturers. 51% attacks are not as dangerous as many people believe. They CANNOT be used to rewrite the whole ₿itcoin blockchain, create fake ₿itcoin, increase the ₿itcoin max supply of 21 million, steal your ₿itcoin, or change any of the consensus rules.
They CANNOT be used to make a lot of money from double spends either, so it is unlikely that a profit-minded attacker would ever use it.
All that 51% attacks can do is to annoy people by making ₿itcoin transactions take longer, censoring certain transactions, or temporarily stopping all ₿itcoin transactions by mining a series of empty blocks.
To do a 51% attack, a government would need to buy, build, or steal a lot of ₿itcoin mining rigs (ASICs), which is basically impossible to do without the world noticing.
So what happens when ₿itcoiners learn that a 51% attack by the US government is on the horizon or has already started?
₿itcoin Core devs create one line of code that blacklists miners with US-based IP addresses and whitelists miners with overseas IP addresses. These devs cannot force full nodes to run this software, but economically incentivized ₿itcoiners running nodes will certainly run it.
Mempools would also back up, leading to much higher transaction fees, that would incentivize more economically minded ₿itcoin miners to plug in, thus reducing the attacker's % control of the hash rate.
₿itcoin has a very strong social layer (smart, wealthy) that will do everything in its power to defend ₿itcoin. Nobody is just going to sit on the sidelines and watch ₿itcoin die.
Once the 51% attack was over and the world saw the ₿itcoin network still operating as usual--
There would be a mad rush to get some of this special money that even a nation-state attacker like the US government was unable to stop.
Watch this video first:
Can the Government Hack, Attack and Stop ₿itcoin if they wanted to? 🤔
https://rumble.com/v2fc8dw-can-the-government-hack-attack-and-stop-itcoin-if-they-wanted-to-.html
Map of ₿itcoin nodes:
https://bitnodes.io/
Original Video by Trader University: https://www.youtube.com/watch?v=cYpLQtcBCNI
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₿itcoin (BTC):
bc1q63xshh2c2u4tvc6jksl5crlhtp554qu0l4nn8j
₿itcoin Cash (BCH):
qqms8t79e6rk5z5djad360d38y9kkqnh7yfpxkkuy5
₿itcoin SV (BSV):
1F6oH8qkMjswViJSwq965gRivE3DqKuJKC
Litecoin (LTC):
LgxrUdjUxnmFGLtsAbh76C3aAm3dXAGDFV
Dogecoin (DOGE):
DGn5bkC9WM1E2oM79HWiYoVxE3rHuEGkoS
Ethereum Classic (ETC):
0xC03AEe5333D50a20810e1A7585D9BB3f77E0B773
Ethereum (ETH):
0x27d5493Ac22D56B68cF36F5f77594BDC8e6FAc5E
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0x27d5493Ac22D56B68cF36F5f77594BDC8e6FAc5E
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